China's July Industrial Crude Oil Output Turns Positive, Electricity Generation Holds Steady After Slight Dip

Deep News08-17 15:50

Official data from the National Bureau of Statistics revealed on August 17th that in July, industrial-scale coal production declined year-on-year, while crude oil output shifted from a decline to growth. Natural gas production remained stable, and electricity generation was steady and orderly.

Coal, Crude Oil, and Natural Gas Production and Related Data

Coal production saw a year-on-year decrease. In July, industrial-scale coal output totaled 340 million tonnes, a 10.1% drop from the previous year, with an average daily production of 11.07 million tonnes. For the first seven months of the year, industrial-scale coal output reached 2.70 billion tonnes, a 2.9% year-on-year decline.

Crude oil production turned from a decline to growth. July saw industrial-scale crude oil output of 18.27 million tonnes, a 0.8% increase year-on-year, reversing a 0.5% decline in June. Average daily output stood at 589,000 tonnes. From January to July, industrial-scale crude oil production totaled 127.69 million tonnes, up 0.9% year-on-year.

The decline in crude oil processing narrowed. In July, industrial-scale crude oil processing volume was 53.11 million tonnes, a 15.8% year-on-year drop, but the rate of decline was 1.9 percentage points narrower than in June. Average daily processing volume reached 1.713 million tonnes. For the first seven months, industrial-scale crude oil processing amounted to 396.96 million tonnes, a 6.5% decrease year-on-year.

Natural gas production remained stable. July's industrial-scale natural gas output was 21.4 billion cubic meters, a 0.9% drop year-on-year, with an average daily output of 690 million cubic meters. The cumulative output for the first seven months was 154.3 billion cubic meters, a 1.2% year-on-year increase.

Electricity Generation Data

Industrial-scale electricity generation was largely stable. In July, industrial-scale power generation was 943.9 billion kilowatt-hours, a slight 0.1% year-on-year decline, with an average daily generation of 30.45 billion kilowatt-hours. For the January-July period, industrial-scale power generation reached 5.6985 trillion kilowatt-hours, a 3.0% increase year-on-year.

By energy source in July, industrial-scale thermal power turned from growth to decline, while hydropower growth accelerated. Nuclear and solar power growth rates slowed, while wind power shifted from a drop to an increase. Specifically, industrial-scale thermal power fell 3.5% year-on-year, compared to a 0.5% increase in June. Hydropower grew by 6.7%, accelerating by 1.9 percentage points. Nuclear power increased by 6.6%, with growth slowing by 1.9 percentage points. Wind power rose by 4.5%, rebounding from a 5.6% decline in June. Solar power generation grew by 5.6%, but its growth rate slowed by 8.6 percentage points.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment